What is the AKITA Token?

2022 年 4 月 7 日

AKITA TOKEN (Akita Inu) is an ERC-20 token on the Ethereum blockchain.

Originally a meme token without a team nor a project, acting as Doge and SHIB’s smaller brother, it now has a strong community of over 60,000 + holders, a dedicated team of community members/investors, and many community moderators to help federate the community.

The goal of the team is to convert the Akita Inu coin from a meme coin to a real, useful token with various use cases. We also have cross chain interoperability.

The AKITA INU token was launched on Feb 1, 2021 anonymously by its developers. Initially, the liquidity was locked in Uniswap and the contract keys have been burned. This token has been taken over by the community and is being led by several core team members and moderators.

The goal of the DAO is to establish itself as a decentralized cooperative that uses its liquidity and token model to structure and incentivize members for contribution.

Longer Term goals include registering the DAO as a legal entity and procuring our own network (AKITA network) via Avalanche subnets. This will allow us to build our own social media network upon our very own blockchain layer.

What is AKITA network DAO?

AKITA network DAO is a decentralized autonomous organization which has an established reserve currency protocol available on Avalanche. This established reserve currency protocol is based on the gAKITA token. Each gAKITA token is backed by AKITA-wAVAX LP tokens in the AKITA network DAO treasury, giving it an intrinsic value that it cannot fall below.

How do one benefit from AKITA network DAO?

The main benefit for stakers comes from supply growth. The protocol mints new gAKITA tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto- compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.

The main benefit for minters comes from price consistency. Minters commit a capital upfront and are given a fixed return at a set point in time; that return is given in gAKITA tokens and thus the minter’s profit would depend on gAKITA price when the minted gAKITA matures. Taking this into consideration, minters benefit from a rising or static price for the gAKITA token!

Who created AKITA network DAO?

AKITA network DAO is a fork of Olympus on the Avalanche Network. The team developing the project is part of the AKITA INU token community with a passion for DeFi. We will become a Decentralized Autonomous Organization.

Who runs AKITA network DAO?

Initially, the AKITA INU token core team will make decisions until the DAO- governed model is implemented and the community is integrated.

Is gAKITA a stablecoin?

No, gAKITA is not a stablecoin. Rather, gAKITA aspires to become an algorithmic reserve currency backed by other decentralized assets. Similar to the idea of the gold standard, gAKITA provides free-floating value its users can always fall back on, simply because of the fractional treasury reserves gAKITA draws its intrinsic value from.